Ebook Enterprise Project Portfolio Management: Building Competencies for R&D and IT Investment Success, by Richard M. Bayney, Ram Chakravarti
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Enterprise Project Portfolio Management: Building Competencies for R&D and IT Investment Success, by Richard M. Bayney, Ram Chakravarti
Ebook Enterprise Project Portfolio Management: Building Competencies for R&D and IT Investment Success, by Richard M. Bayney, Ram Chakravarti
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This unique guide and professional reference presents a structured framework for practitioners and students of project, program, and portfolio management to enhance their strategic and analytic capabilities in the evolving discipline of project portfolio management (PPM). It provides a practical, step-by-step approach to building competencies in categorizing, evaluating, optimizing, prioritizing, and managing an IT, pharmaceutical, biotech or other complex R&D-oriented portfolio of investments.
Key Features:
--Contains a unique framework for building strategic and technical competencies in enterprise portfolio management, encompassing scenario analysis and strategic planning, project categorization, integrated evaluation, portfolio optimization, and project prioritization
--Outlines best practices for successfully implementing and practicing PPM in R&D and IT enterprises, including decision framing and data integrity, resource management, stakeholder management, project/program/portfolio management office, organizational barriers to success, and a seminal section on risk analysis and risk management
--Supplies two comprehensive case studies that clearly demonstrate the application of quantitative and qualitative portfolio selection techniques in R&D and IT
--Illustrates robust techniques such as integer linear programming, goal programming and multiple objective decision analysis and how they can be used to prioritize and optimize the value of a portfolio subject to budgetary and human resource constraints
--WAV offers (i) a slide presentation describing the utility of CREOPM, a unique portfolio management process and methodology, (ii) an Excel analytical set-up template for the Innovations R Us Corporation case in Chapter 7 with instructions for portfolio optimization, and (iii) an Excel analytical set-up template for the Drugs R Us case in Appendix A, with instructions for decision analysis using TreePlan available from the Web Added Value Download Resource Center at jrosspub.com
- Sales Rank: #543558 in Books
- Brand: Brand: J. Ross Publishing
- Published on: 2012-09-04
- Original language: English
- Number of items: 1
- Dimensions: 10.00" h x 1.00" w x 7.00" l, 1.80 pounds
- Binding: Hardcover
- 384 pages
Features
- Used Book in Good Condition
Review
Enterprise Project Portfolio Management is a masterpiece by experts that teaches the how and why, and also guides readers in applying the discipline of project portfolio management to achieve superior results by focusing on effective analyses, quality, and clarity of targets. ----Dr. Isabella Fugaccia, Head, R&D Project Management, Chiesi Farmaceutici
Bayney and Chakravarti chart a clear path to a higher order of portfolio management. Their approach combines sophistication with clarity and transparency. ----Dr. Frank Konings, Senior Vice President, Technology & Deployment, Johnson & Johnson
Enterprise Project Portfolio Management is long overdue. Bayney and Chakravarti get to the heart of best practices in portfolio management and help practitioners at all levels of the organization manage investments critical to success. ----Dr. Richard Sonnenblick, CEO, Enrich Consulting, Inc.
About the Author
Dr. Richard M. Bayney, PMP, President of Project & Portfolio Value Creation, is regarded internationally as a thought leader in the discipline of project portfolio management within the pharmaceutical and biotechnology industries. This 23-year veteran was formerly the Vice President, Portfolio Management & Decision Analysis at Johnson & Johnson Pharmaceutical Research & Development, and spent over 10 years building and leading departments in strategic planning, decision analysis, and portfolio management at Bayer, Bristol-Myers Squibb, and Johnson & Johnson. He earned an M.Sc. and Ph.D. from the University of London and an MBA from Columbia University. Richard is also a frequent speaker at industry events on decision-making under risk and uncertainty as well as risk, resource, and portfolio management, and is an adjunct faculty member at the School of Engineering and Applied Sciences and the School of Arts & Sciences at the University of Pennsylvania.
Ram Chakravarti is an expert in decision and risk analysis, portfolio management, enterprise architecture, IT strategy and large scale program execution in the IT sector. He has over 16 years of global IT, pharmaceutical & healthcare industry experience. Ram holds masters degrees from the Indian Institute of Science in electrical and electronics engineering and from the University of Pennsylvania in organizational dynamics specializing in decision analysis and portfolio management. He works for Oracle Americas, Inc. in their North American Enterprise Architecture practice.
Most helpful customer reviews
0 of 0 people found the following review helpful.
An excellent book to develop Project Portfolio Capabilities
By Andres Quintanilla
Many books or articles on Portfolio management emphasize the importance of optimization, proper resource allocation, and to kill pet (petty?) projects. But beside the good advice no one shows you how to do it.
In this book, Dr. Bayney and Chakravarti do an excellent job in developing the foundation to implement project portfolio management. I must warn you, you should have some previous knowledge of concepts as efficient frontier, monte carlo analysis, parametric estimation, linear programming and even AHP because those are used
The first section begins with basic concepts of EPPM in IT and R&D industries, you will eventually find what I consider the most important question for the PPM execution: “How well (EPPM) is practiced, how much value is created and what value leaves purposely or unknowingly?” This chapter explains the logical evolution of the EPPM practice within a company.
The second section explain strategic planning, and data integrity, The reason for this is to understand how the PPM process integrates to the business planning process, because strategic planning is about the WHAT a corporation wants to be in the future and HOW the EPPM process will support this. You will read on common issues you find during strategy development as: current rewards systems, metrics and culture. Data integrity is very important because any organization has to be clear on what it wants to do: grow on sales? Ebitda, both? If the decision making proves is biased how could you expect to get the desired results?
The third section introduces you to the CREOPM™ methodology which is the tool the authors developed.
- ategorize projects: to allow flexibility for optimization
- isk analysis: Because no project neither its phases are 100% certain
- integrated valuation: to know the probability of a value and the variance of a result (example: the project averages sales are “X”, and you only have n% probability to have sales above a “Y” value)
- project ptimization: the use of simulation to find the efficient frontier of a project portfolio regarding several constraints. Here you understand the answer to the question of the first section
- project
rioritization: the use of the AHP and MODA methodologies to assign weights to several criteria for project evaluation
- anage: A deeper guide to self asses your EPPM maturity levels, risk, resource & stakeholder management.
Finally, the book closes with the 2 case studies, one for the IT industry and one for the R&D. This is the chapter I liked most because the authors go through all the CREOPM™ framework to develop several scenarios for a portfolio, from the un-constrained maximum results to the constraint-adjusted more close to reality, so an organization can choose: Do we look for short or should we look mid-term? Shall we ask for more budget? Are we willing to accept a some how flexible constraint?
Any decision maker would be pleased to have this level of detail to help find the answer to "How much value are we creating and what value are we leaving purposely or unknowingly?"
2 of 2 people found the following review helpful.
The best presentation of the structure first approach to PPM
By Gary Summers
There are two general frameworks for PPM. The structure first approach (my own term, not the book's term) models a situation, and using the model, it selects projects to maximize value. The approach uses mathematical techniques, often sophisticated ones, including decision analysis and optimization. Uncertainty is addressed through the model via sensitivity analysis and Monte Carlo simulation. The structure first approach has a strong theoretical foundation, a rich history and rigorous practices.
PPM practitioners should know and understand the structure first approach. With its long history, one may expect to find several good presentations of it, but this is not the case. This book solves the problem. It provides a concise, incisive presentation of the structure first approach. It is the best presentation of the approach and essential reading for all who practice PPM.
The book's main chapters describe the concepts of the approach, including techniques for strategic planning, problem framing, data gathering, project evaluation and project selection. Its descriptions are concise but revealing, addressing both purpose and practice. The book highlights project evaluation and selection, especially IT scoring models, decision analysis and optimization. It focuses on IT and pharmaceutical PPM, but its lessons apply to all PPM.
The book's final chapters present two detailed case studies that integrate the practices, show what good implementations look like and address many nuances. These chapters argue strongly for the structure first approach, comparing optimization to funding down a ranking of projects. For me, these are the most exciting chapters, and even as an expert, I took many notes while reading them.
The book does not teach mathematical techniques, despite its brief appendices on decision analysis and optimization. People who are learning these subjects should skip the appendices and consult the book's reference list.
As stated, this book is the best presentation of the structure first approach to PPM. It will help anyone who wishes to understand the concepts, applications and reasons for managing PPM via planning, mathematical modeling and optimization.
(Note: The other PPM framework is called the uncertainty first approach. It has been practiced ad hoc, at best, because its theory is just coalescing. While nascent, here are its basic ideas. Rather than maximizing portfolio value, managers strive to increase the flow of value through a pipeline. All aspects of a pipeline are organized to manage uncertainty, and of a pipeline's parts, the front-end is the most important. Project evaluation and selection exploit the fact that project uncertainty diminishes as projects move through a pipeline. While provocative, the details and effectiveness of this approach are still being determined.)
2 of 2 people found the following review helpful.
The theory and reality of project portfolio management
By Prof Don Pardew
It would not be overly difficult to write a thorough and mathematically precise book on portfolio management, but many practical and contextual considerations that managers inevitably face may have to be sacrificed or compromised to preserve its technical precision. Nor would it be overly difficult to write a practical applied book on portfolio management, but much of the important technical detail and precision may have to be sacrificed or compromised to keep the narrative engaging. It would be difficult however to write a book on portfolio management that conveys the discipline without sacrificing technical precision while at the same time capturing the practical and contextual details that managers face in its application within their firms. Yet the authors of Enterprise Project Portfolio Management: Building Competencies for R&D and IT Investment Success have accomplished both of these difficult challenges without sacrificing either and have done so in a wonderfully readable narrative of the subject which they rightfully declare to be a discipline properly located within the strategic management function. Their comprehension of the practical environment in which the theory of the discipline must be implemented is as on target as it is impressive. Their integration of the theory and practice of portfolio management will provide as much support for professors who must teach the topic, as it will for students who must learn it and practicing professionals who must apply it. Having both taught thousands of MBA and EMBA students statistics and operations management, and having provided many companies with strategic and operational consultation, I can attest that the authors have produced a very valuable resource that will ring true for all professors and students of the discipline and for portfolio management professionals whatever may be their industry.
Professor Donald L. Pardew
Columbia Business School (formerly)
University of Bolzano, Italy (currently)
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